On January 23, 15,000 shares of Aurora Companys common stock are acquired at a price of $25

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On January 23, 15,000 shares of Aurora Company’s common stock are acquired at a price of $25 per share plus a $150 brokerage commission. On April 12, a $0.50-per-share dividend was received on the Aurora Company stock. On June 10, 6,000 shares of the Aurora Company stock were sold for $31 per share less a $100 brokerage commission. At the end of the accounting period on December 31, the fair value of the remaining 9,000 shares of Aurora Company’s stock was $30 per share. Aurora Company has 200,000 shares of common stock outstanding. Journalize the entries for the original purchase, dividend, sale, and change in fair value under the fair value method.

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Financial Accounting

ISBN: 9781337913102

16th Edition

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

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